Homegrown e-commerce company Flipkart has acquired a 100% stake in Walmart India, which operates the best price cash-and-carry business. It has launched a new digital marketplace Flipkart Wholesale, which will help transform the grocery retail system in India. The company said in a statement that Flipkart Wholesale will start its operations in August 2020. Grocery will provide services for the fashion categories. It is headed by a veteran of Flipkart, Adarsh Menon. Samir Aggarwal, Chief Executive Officer of Walmart India will remain with the company to ensure a smooth transition. According to the company, he will move on to another role within Walmart.

“As an e-commerce pioneer in India, the Flipkart group has changed the face of shopping for millions of Indian consumers. Kalyan Krishnamurthy, Chief Executive Officer of Flipkart Group said that with the launch of Flipkart Wholesale, we will now expand our capabilities in technology, logistics, and finance to small businesses across the country." The acquisition of Walmart India adds a strong talent pool with deep expertise in the wholesale business that will strengthen our position to uniquely address the needs of Kern and MSME. With this growth, the Flipkart Group will built synergy in its businesses further. Krishnamurthy said more value and choice will be adjusted for end-consumers and businesses. With the acquisition of the business of Walmart India, its employees will join the Flipkart group, and home office teams next year will be integrated. The Best Price brand will continue its 1.5 million + members through its Okineline network of 28 stores and e-commerce operations.

Last week, Walmart led a new infusion of $ 1.2 billion in Flipkart, two years later it acquired a 77% stake for $ 16 billion. The investment which will be made in two installments this financial year is valued at $ 24.9 billion. According to the company, Wholesale will leverage Flipkart's strong domestic technology capabilities, broad leadership in the consumer e-commerce segment, and a unique understanding of the industry in India. The business will also use the Flipkart Group's vast supply chain infrastructure to reach Kiranis and MSMEs across the country.

For more than a decade, we have been committed to India's prosperity by serving Kiran and MSMEs across the country, supporting small farmers, and building a global sourcing and technology hub. Today the next big step is that Walmart fulfills the culture of innovation at the launch of Flipkart Wholesale, India's leading cash-and-carry legacy. Leveraging each other's strengths and unique expertise, this joint team will break new ground in their common mission to help Indian businesses grow and succeed.

"We look forward to a bright future for Flipkart Wholesale," said Judith McKenna, president, and chief executive officer of Walmart International. According to Flipkart, top Indian brands, local manufacturers and vendors have partnered with Flipkart Wholesale to create eunuchs and MSMEs. To ensure the availability of a wide range of products and goods.

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